PSX rebounds after NA approves budget
The Pakistan Stock Exchange (PSX) saw a positive performance on Friday, as the KSE-100 Index gained 1,581.77 points, or 1.3%, reaching the current index at 123,628.23 during intra-day trading.
The index traded between a high of 123,628.23 and a low of 122,222.69, showing a modest fluctuation.
The market is currently suspended for the Namaz break and will resume afterwards.
Source: PSX
The market saw strong trading activity with a total volume of 81,076,304 shares and a total value of Rs9,001,266,999.
The previous close for the index was 122,046.46, reflecting a notable improvement as investor sentiment remained positive.
The National Assembly on Thursday approved the Rs17.6 trillion worth budget, along with Rs463 billion in new taxes, bringing the digital economy under the purview of tax laws, but almost nullified the single largest enforcement measure to ban economic transactions by ineligible persons.
The NA approved the second budget of the government of Prime Minister Shehbaz Sharif with a comfortable majority.
Read: NA passes Finance Bill with Rs463b new taxes
During a vote on one clause, the coalition government mustered the support of 201 Members of the National Assembly as against 57 votes of the opposition parties.
It was also the second budget presented by Minister for Finance Muhammad Aurangzeb in the National Assembly.
With the approval of the assembly and subsequent assent by President Asif Ali Zardari, the Finance Act 2025 will come into effect from Tuesday.
The National Assembly approved a Rs17.6 trillion budget for the fiscal year 2025-26, making the single largest allocation of Rs8.2 trillion for the interest payments.
The defense spending would consume Rs2.55 trillion, the single largest expense in the budget, excluding expenses on the armed forces development programme and military pensions.
The subsidies are the third biggest head with over Rs1.1 trillion allocation, followed by over Rs1 trillion for pensions, Rs1 trillion for development spending, and another Rs917 billion for running the civil government.
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